Trading advisors often deserve a positive reputation in one market segment, and even after the latter has changed its nature, they are still misleading users and inspiring hopes for earnings. The situation is aggravated with the fact that the siphons with past achievements also include paid algorithms, one of which is Forex Growth Bot EA.
Additional problems in the analysis and optimization of this robot creates the "closeness" of the algorithm, whereby the logic for taking decisions is not clear; the only thing we know is that the set includes a pointer indicator, whose code is also unavailable; and the decision to open an order is made on the next candle after the corresponding arrow appears.
The Forex Growth Bot contains the minimum number of settings that the user can adjust, and, as noted in the developers’ description, they are "secret" and should be regularly adjusted to match the market in the tester. Objectively, the review can end here, as overly optimized robots always siphon in the end – market just needs to change volatility a bit, but we will deal with it further not to seem unfounded.
Results shown by the Forex Growth Bot at different settings
As noted above, there are very few settings, the main ones being the following:
Lot Size: size of the first lot in the series (the “pyramiding” mechanism is built into the robot);
Fast Volatility Base and Slow Volatility Base: periods for calculating volatility;
Profit Target: profit target relative to calculated volatility base – for example, at a value of 0.4, the robot will fix profits after the price has passed 40% of the calculated volatility values;
Stop Loss: similar to the previous, but for stop-loss.
Many experiments were carried out in the strategy tester, and the best result achieved in 2013 at the 15-minute timeframe with EUR/USD pair corresponds to "not to lose" rating and is presented together with the periods for calculating the volatility in the figure below:
The EA trades at a loss with all other configurations and currency pairs. For a more objective assessment, we can turn to the monitoring of one of developer’s accounts, which is trading for a few years since the "birthday" of the robot:
Judging by the dynamics of funds, the Forex Growth Bot EA in the first years after the development did bring hundreds of percent per annum – this is when it gained its reputation, but in March 2013 the deposit literally began melting. Thus, the monitoring fully confirms the test result – moreover, we were able to bring the EA to breakeven, while it continued to fall into the abyss at the author’s basis.
In conclusion, we should note that it’s up to everyone to decide whether to use the Forex Growth Bot EA or not, but we do not recommend working with it due to excessive customizing under certain market conditions. Of course, you can use the settings to achieve zero profit and at the same time conduct regular tests to identify the prerequisites to repeat the cycle where it earns, but it's just a waste of time.Social button for Joomla